CBDT Circular extends ITR filing to Dec 10, 2025, and Audit Reports (44AB/12A) to Nov 10, 2025, for audit assessees. TP report deadlines are unchanged.
SC affirmed a fire insurance claim after insurer attempted repudiation based on an arbitrary surveyor’s report. Ruling held that once a genuine loss is proven, the exact cause of fire is irrelevant, and surveyors cannot ignore documented evidence of stock loss. The key takeaway is that insurance policy terms like FFF (Furniture, Fixtures, and Fittings) must be interpreted broadly in favor of insured.
IFSCA updated V-CIP rules for IFSC entities, expanding author-ized parties and setting strict cyber security, geo-tagging, and anti-fraud standards for onboarding Indians and NRIs.
The Andhra Pradesh AAR ruled that exports of pre-packaged and labelled frozen shrimps up to 25 kg are taxable at 5% GST under Notification No. 06/2022–CT (Rate).
CBIC Circular No. 27/2025 extends the online application facility for the MOOWR Scheme, hosted on the Invest India portal, until November 15, 2025, for Section 58 and 65 applications.
Authority for Advance Ruling (AP) rejected a taxpayer’s plea on GST levy for export of pre-packaged rice up to 25 kg, observing that same issue was already being examined for previous tax periods. The order reinforces limits on AAR jurisdiction where proceedings are pending.
Andhra Pradesh Advance Ruling Authority holds that export of processed frozen shrimp (HSN 0306) in pre-packaged and labelled containers up to 25 kg attracts GST liability at 5%.
CBIC Circular outlines guidelines for voluntary revision of customs entries post-clearance under the new Section 18A, enabling duty payment with interest but without penalty. Fee is Rs. 1000/-.
CBIC Notification 72/2025-Customs (N.T.) amends tariff values for crude palm oil, soya bean oil, gold ($1285/10g), silver, and brass scrap, effective Nov 1, 2025.
DGFT issued a Trade Notice inviting stakeholder feedback on proposed amendments to the Aayat Niryat Forms (ANF) for SCOMET export authorizations. The changes aim for a single application format.
